Japanese SBI Holdings Virtual Currencies Adds Support to Two Major Cryptocurrencies
SBI Holdings Virtual Currencies, a wholly-owned subsidiary of SBI Holdings, Inc., announced the official the launch of cryptocurrency spot trading service “VCTRADE” on June 4, 2018. The process of registration as a cryptocurrency exchange and trading business was completed in September 2017. SBI Holdings Virtual Currencies started with rendering the service to the limited over 20,000 users, who applied for advanced application in October 2017. Ripple XRP was the exclusive cryptocurrency offered at the launch of SBI Virtual Currencies.
Ripple had soared significantly after the listing of SBI Holdings VCTRADE had plans to list Bitcoin [BTC] and Bitcoin Cash [BCH]. SBI virtual currencies announced the addition of Bitcoin Cash (BCH) to its list of cryptocurrencies last week. It announced on its website, ” SBI Virtual Currency will start handling bitcoin cash (BCH) from Monday, June 11th. A currency pair newly available for trading: BCH / JPY As for the handling of bitcoins (BTC), please wait for a while until the start. From now on, VCTRADE thank you.”
SBI Holdings Virtual Currencies announced that customers today can begin trading BTC/JPY using VCTRADE services. This trading pair is in addition to BCH/JPY trading pair which the exchange started offering on June 8th. With today’s announcement, SBI Holdings Virtual Currencies now offers three trading pairs: BCH/JPY, BTC/JPY, and XRP/JPY. For all three cryptocurrencies, customers get to trade between 500 yen and 5 million yen. Customers can also choose to place their orders in cryptocurrencies between 0.0001 and 40 BCH, 0.0001 and 5 BTC or 10 and 70,000 XRP.
Along with the unbelievably narrow spreads level, SBI Holdings Virtual Currencies offers the world’s highest level of the low-latency trading ecosystem by utilizing NASDAQ’s transaction system (matching system), which has been used successfully by SBI Japannext’s PTS. To build a robust and secure platform, SBI Holdings Virtual Currencies has partnered on wallet management with SECOM Trust Systems CO., LTD.
Some local news outlets reported that SBI Holdings sent out feelers of adding Ether (ETH) in the immediate future at the group’s third-quarter earnings press conference. To gain a significant foothold in the cryptocurrency market, SBI Holdings intends to cajole its existing users from the securities business. SBI Holdings Securities Business is at the numero uno position in the share of individual stock trading volume, number of accounts and profitability. SBI Holdings has close to 4.17 million customers in securities space.
Image via Forbes
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